ExxonMobil Will Transfer Operations Management to Petronas in Two Production Projects
According to representatives of the companies, this is not a sale, the share and distribution of companies in the project will not change. However, the Malaysian media speaks with reference to sources that Exxonmobil intends to get rid of old shelf assets. The company said that it intends to continue …
Sale of Eni and Equinor’s Onshore Assets in Nigeria Is Approved
The Nigerian Petroleum Regulatory Commission (NUPRC) has given the green light for the sale of Eni and Equinor assets to Nigeria’s Oando. The deals had been pending for months as they required approval from the Minister of Petroleum under the recently passed Petroleum Act. Approvals for ExxonMobil’s $1.3 billion sale …
American ExxonMobil Wants Another Oil Field in Guyana
The American corporation ExxonMobil has submitted an application to the Guyanese authorities for an environmental permit for the development of the Hammerhead field, located on the shelf. This asset could become ExxonMobil’s seventh oil project in Guyana. Bloomberg writes about this. It is expected that production at Hammerhead could reach …
Oil Production in Gayana Overtook the Production of Chips by Profitability
The net profit of the enterprise of the American Exxon and Hess and the Chinese CNOOC in a joint venture at the Gayan shelf, led by Exxon, increased sharply in 2023, and profitability exceeded the NVIDIA indicator, Reuters writes. The beneficial agreement of Gayana with a consortium led by Exxonmobil …
Hess-Chevron Deal May Be Suspended Until 2025
A transaction arbitration panel that could have blocked or green-lit the $53 billion sale of Hess to Chevron has not made a decision three months after ExxonMobil filed a claim for pre-emptive rights to buy Hess’ assets in Guyana as a co-owner of the project. The third and final arbitrator …
Europe Wants to Find an Alternative to Russian Gas Imports in Algeria
Algerian state-owned Sonatrach will sign an agreement to develop a large hydrocarbon field with Chevron in the next few days, said Algerian Energy Minister Mohamed Arkab. According to him, another document is being prepared for signing with ExxonMobil. Agreements with Western companies will concern the development of new hydrocarbon fields …
The President of Guyana Invited Chevron to Enter into a $150 Billion Oil Production Project
Guyanese President Irfaan Ali would welcome the entry of American Chevron Corp. into the capital of the operator of the Stabroek Block oil production project off the coast of the state. Ali told the Financial Times. Stabroek Block is one of the most “cash” deposits discovered in recent decades, the …
ExxonMobil Will Explore Opportunities to Develop Hydrocarbon Resources in Algeria’s Ahnet and Gourara Basins
Algeria’s national oil and gas company Sonatrach and the American ExxonMobil have signed a Memorandum of Understanding (MoU). This was reported by the Sonatrach press service. The MoU was signed in the presence of Sonatrach CEO R. Hachichi and ExxonMobil Vice President for Exploration and New Opportunities D. Ardill. It …
Guyana Welcomes Chevron’s Entry into Stabroek Project
Guyanese leader Irfaan Ali has a positive attitude towards Chevron’s possible entry into the Stabroek oil project, writes FT with reference to the President of Guyana himself. Guyanese authorities believe that Exxon’s growing stake in Stabroek Block threatens competition. That is, Chevron’s entry into the country through the acquisition of …
ADNOC Will Buy 10% of Galp’s Shares in the Zone 4 Concession in Mozambique
Abu Dhabi’s national oil company ADNOC has agreed to acquire a 10% stake in Portugal’s Galp Energia’s Zone 4 concession in the gas-rich Rovuma Basin in Mozambique. The Zone 4 concession is located offshore Cabo Delgado Province in northern Mozambique and is managed by Mozambique Rovuma Venture (70%), owned by …